Customers optimize their sourcing and adaptive supply chain strategies with Coupa; realize $221 billion in cost savings and improved margins
FOSTER CITY, California., December 5, 2024 /PRNewswire/ — The Coupas a growing community of over 3,000 global brands has achieved over $221 billion savings to date, and almost 17 billion dollars savings in the third fiscal quarter alone. By leveraging Coupa’s leading AI total spend management platform, customers benefit from more favorable supplier, sourcing and supply chain design and planning strategies, reducing costs for improve profit margins.
“Coupa’s goal is ambitious. We are building a network that will support the future of global commerce, where supply and demand adapt autonomously in real time, opening new growth opportunities for millions of buyers and suppliers. Our unrivaled network of 10 million buyers and suppliers grows every day with the 7 trillion dollars dataset that grows with their transactions every year. All of this informs our community-generated AI, which is getting smarter by the minute so businesses can accelerate their efficiency and growth plans, reduce risks to their future, and become more resilient to build a better future,” said Leagh TurnerCEO of Coupa.
“Coupa’s ambitions are translated into action by the most powerful team, technology and community I have ever seen. The company is accelerating, innovating and growing. We have maintained a gross retention rate of 95% and are on track to generate EBITDA margins of approximately 40% for the year and we continue to deliver tangible value to our customers that helps them improve their margins,” Turner continued.
“We want purchasing to be a nearly invisible medium. End users don’t need to think about who to contact or how to purchase. That’s where Coupa comes in and why it’s so powerful for our business,” he said. declared Bernard HardyDirector of Purchasing Excellence at AkzoNobel, a leading supplier of sustainable and innovative paints and coatings to customers around the world. Learn more about the history of AkzoNobel here.
Coupa community highlights for the fiscal third quarter include:
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More than 380 global companies have initiated or expanded their partnership with Coupa. New contracts won during the quarter include American Residential Services, Bugaboo International, Nextracker, San Francisco Giants, Swiss Life Germany, Swiss Steel Group, Viña Concha y Toro and Yamaha Motor Company.
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128% growth in new bookings per quarter in Coupa’s supply chain businesswelcoming several new clients and renewing several leading brands.
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Customers achieved a 276% ROI in three years and achieved more than 3x financial benefit with ROI in 10 months, according to a Total economic impact study 2024 from Forrester Research quantifying the business value brought by Coupa.
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Coupa’s Global Community Event Inspire will highlight the company’s “margin multiplier effect.” detained in Las Vegas on May 12-15, 2025 and followed by a series of World Tour events In Frankfurt, London, SydneySao Paulo and Tokyo throughout the year. At these events, procurement, finance, supply chain and IT professionals can learn from their industry peers through curated learning and networking journeys.
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Coupa’s AI-powered total spend management platform continues to gain recognition by leading analyst firms for its innovative use of AI, automation, customer centricity and compliance.